HYDERABAD, India, Oct. 30, 2025 /PRNewswire/ -- Goyaz, India's fastest-growing occasion-led gold-plated silver jewelry brand, today announced the successful closure of INR 130 Crores for its inaugural institutional funding round led by Norwest.
Founded in January 2023, Goyaz has rapidly expanded to 18 stores across multiple states, marking a significant milestone in its mission to democratize access to high-quality, intricately crafted occasion-wear jewelry in India.
Addressing a Pan-India Challenge
Goyaz tackles the escalating costs associated with traditional auspicious jewelry by offering an affordable yet sophisticated alternative. The brand's exquisitely designed gold-plated silver collections appeal to consumers seeking cultural authenticity alongside exceptional value, meeting a widespread demand across India.
Each piece is crafted from high-quality silver and elegantly plated with a thin layer of gold, combining silver's durability and affordability with the rich, luxurious appearance of gold. Through this approach, Goyaz delivers sophisticated and auspicious jewelry that is both accessible and stylish. Positioned as a thoughtful alternative to traditional solid gold jewelry, Goyaz addresses rising costs without compromising on elegance or cultural significance.
Robust Growth Anchored by Visionary Leadership
Goyaz's swift expansion and sustained profitability underscore its strong market fit and operational excellence. With 18 stores currently operational and a growing customer base, the brand is well-positioned to scale nationwide, making auspicious jewelry more accessible than ever before.
"We are delighted to welcome Norwest as our inaugural institutional investor. Their partnership empowers us to broaden the reach of our meticulously crafted occasion jewelry. Leveraging Norwest's strategic expertise, we will accelerate growth, diversify our portfolio, and deepen our presence across key markets. We remain steadfast in our commitment to exceptional craftsmanship and innovation, establishing Goyaz as a distinguished leader in the alternative jewelry sector," said Priyanka Vemuluri, Founder and CEO of Goyaz.
PwC served as the exclusive financial advisor, while JSA acted as legal counsel to Goyaz and its shareholders.
Norwest's Perspective
"With gold prices soaring, traditional jewelry has become out of reach for many consumers. Women today want variety, design innovation, and authenticity — all at accessible prices. Goyaz captures this shift beautifully, pioneering a new category of gold-plated silver jewelry that blends cultural heritage with contemporary design. The founders have built a profitable, bootstrapped business growing over 100% YoY— a testament to their sharp execution and strong fundamentals," said Niren Shah, Managing Director and Head of Norwest India.
"Driven by a clear vision and deep customer obsession, Priyanka and Ravi have built Goyaz into a profitable and scalable business in just a few years. Goyaz's robust backend platform and integrated supply chain enable exceptional execution and consistency at scale, while maintaining strong unit economics. We're excited to partner with them as they continue to lead this emerging category and redefine how Indian consumers experience and purchase occasion jewelry," said Ankit Prasad, Principal, Norwest India.
SAM served as legal counsel to Norwest.
About Goyaz
Goyaz is India's fastest-growing occasion-led gold-plated silver jewelry brand. Founded in 2023, the brand has 18 stores across multiple states, connecting consumers with sophisticated and auspicious jewelry that is accessible, stylish, and culturally authentic. To learn more, visit www.goyazjewellery.com.
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